Business news from Ukraine

Business news from Ukraine

Ukrenergo has selected Ultra Alliance Insurance Company to insure risks of Lviv Insulator Company LLC

On April 7, PJSC National Energy Company (NEC) Ukrenergo announced its intention to conclude contracts with Ultra Alliance Insurance Company for property insurance of Lviv Insulator Company LLC (Lot 1) and third-party liability insurance (Lot 2).
According to the Prozorro electronic public procurement system, the estimated cost of services in Lot 1 was UAH 514,200, while the company’s bid was UAH 366,400. Also participating in this lot were Transmagistral Insurance Company—430,100 UAH—and VUSO Insurance Company—513,600 UAH.
The bid for Lot 2 was 321,400 UAH; the bids from IC “Ultra Alliance” were 147,800 UAH, IC “Transmagistral” – 245,100 UAH, and IC “VUSO” – 319,300 UAH.

 

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Guardian Insurance Company to Insure Financial Risks for Security Police Department in Chernivtsi Oblast

On April 9, the Security Police Department in Chernivtsi Oblast announced its intention to enter into a voluntary insurance contract with Guardian Insurance Company (Kyiv) to cover financial risks associated with security contracts.
According to a notice in the Prozorro electronic public procurement system, the price proposal from the sole bidder—Guardian Insurance Company—was 600,000 UAH, compared to the expected cost of 630,000 UAH.
Guardian Insurance Company is a member of the Presidium of the League of Insurance Organizations of Ukraine. Since January 2020, it has held full membership status in the Motor Transport Insurance Bureau of Ukraine (MTIBU) and is authorized to issue “Green Card” policies.

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Ukrainian company Interpipe has joined another offshore wind farm project in North Sea

The Ukrainian industrial company Interpipe has joined another project in the renewable energy sector, supplying pipes for an offshore wind farm in the North Sea off the coast of the United Kingdom.

According to the company, construction of the plant, located 69 km off the coast of Suffolk, England, is in its final stage—the installation of turbines.

As specified, Interpipe’s pipes were previously used in the construction of the foundations for the future wind turbines. The company’s products serve as a mooring system near the wind turbine foundations, where service personnel boats can dock. In total, nearly 2,500 tons of pipes of various sizes were manufactured and shipped for this project.

“The distinctive feature of the pipes for this order lies in their wall thickness and the need to adhere to geometric parameters, as well as in the requirements for the metal’s corrosion resistance in a marine environment. It is very important for us to meet the expectations of our customers and end-users,” explained Jorge Ruiz, sales manager for pipes in European markets.

The project is scheduled to launch in late 2026 – early 2027. The plant will generate at least 1.4 GWh of electricity and will be able to supply over 1.3 million households.

Interpipe is a Ukrainian industrial company and a manufacturer of steel pipes and railway products. The company’s products are supplied to 70 countries worldwide through a network of sales offices located in key markets in the Middle East, North America, and Europe. In 2025, the company contributed 5.556 billion UAH to budgets at all levels.

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Exports of dairy products from Ukraine rose by 44% in March

In March 2026, Ukraine exported 12,430 metric tons of dairy products worth $35.38 million, which is 25.1% more in volume than in February and 44% more in revenue, according to the Association of Milk Producers (AMP), citing data from the State Statistics Service.

As noted by the industry association, exports by volume increased by only 1% compared to March 2025, while revenue decreased by 7%.

In total, in the first quarter of 2026, the country exported 30,560 tons of dairy products (-2%) worth $81.46 million (-9%) to foreign markets. In March, the key products were condensed milk and cream (25% of exports), cheese (17%), butter (15%), and casein (15%).

ABM analysts attribute the increase in shipments in March to the war in the Middle East and the logistical collapse in Iran, which had been a major competitor to Ukraine in the markets of Iraq, the Persian Gulf countries, and Central Asia. Due to disruptions in Iranian exports, buyers began returning to Ukrainian suppliers, whose product prices are currently nearly identical.

In March 2026, compared to February, Ukraine increased exports of condensed milk to 3,600 tons (+20%), whey to 1,710 tons (+24%), cheese to 1,320 tons (+14%), and ice cream to 1,370 tons (+96%). However, shipments of non-condensed milk fell to 2,010 tons (-10%). Revenue from condensed milk rose to $8.92 million, and from cheese to $6.15 million.

“Increased supply of raw materials and weak domestic demand are forcing processors to expand more actively into foreign markets. Despite quotas, the EU’s share of export revenue reached 36%. In particular, Germany has become a strategic market for casein and fresh cheeses under private label, while Poland, in addition to importing into Ukraine, is actively purchasing our butter and dry whey,” the association noted.

Against the backdrop of rising exports, imports are intensifying pressure on the domestic market. In January–March, Ukraine imported 16,950 tons of dairy products (+10%) worth $83.18 million, with cheese accounting for 63%. Experts warned that the surplus of European cheeses being redirected from China poses a threat to domestic cheese producers and could lead to a drop in milk purchase prices in Ukraine.

The foreign trade balance in the first quarter of 2026 remained negative at -$1.72 million.

To stabilize the situation, the industry association is insisting on the introduction of state protective measures against uncontrolled imports from the EU.

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Bus market in Ukraine grew by 21% in March

Initial registrations of new and used buses (including minibuses) in Ukraine in March 2026 rose by 21% compared to the same month in 2025—to 247 units, according to a report by Ukravtoprom on its Telegram channel.

Compared to February of this year, demand for buses increased by 44.4%.
At the same time, new vehicles accounted for 52% of this volume, compared to 34% last year.

In March, no Ukrainian manufacturer made it into the top three among new buses; the most frequently registered buses were Isuzu (29 units), Ford (23 units), and Citroën (15 units).
Among used buses, the most frequently registered were Mercedes-Benz (57 units), Volkswagen (10 units), and Van Hool (9 units).

In total, 647 buses were added to Ukraine’s bus fleet in the first quarter of this year (+6% compared to the same period in 2025). Of these, 319 were new (+10%) and 328 were used (+2.5%).
As reported with reference to data from “Ukravtoprom,” Ukraine’s bus fleet was expanded by 2,700 buses in 2025—21% more than in 2024—including 1,343 new buses (+4%) and 1,364 imported used buses (+44%).

Montenegro may grant a 30-year concession for the Tivat and Podgorica airports to a South Korean company

The Montenegrin government has approved a draft decision to grant a 30-year concession for Podgorica and Tivat airports to the highest-ranked bidder – the South Korean Incheon International Airport Corporation / Incheon Airport Consortium – according to the Telegram channel Serbian Economist. However, the final decision has not yet been taken: it must be approved by the Montenegrin Parliament.

Parliamentary approval is required because the value of Aerodromi Crne Gore’s assets is estimated at approximately EUR265 million, and in Montenegro, decisions regarding state property of such value fall within the remit of the legislature. Transport Minister Filip Radulović has separately emphasised that this is not a matter of sale or privatisation, but rather a management model under which the land, existing infrastructure and all newly constructed facilities remain the property of the state upon the expiry of the concession.

The financial model presented by the government amounts to a total of around EUR1 billion, but there is an important caveat here. This is not just direct budgetary revenue, but the cumulative financial effect of the deal: EUR100 million as a one-off payment upon signing the contract, around EUR600 million in variable concession fees amounting to 35% of the airports’ annual gross revenue over 30 years, and a further EUR300 million in mandatory investments in the modernisation and expansion of infrastructure.

According to the published parameters, by the end of 2029 the concessionaire must invest EUR132 million, including EUR54 million in Podgorica Airport and EUR78 million in Tivat Airport. The overall investment programme provides for the construction of new terminals, the modernisation of existing facilities, the expansion of the total area of airport infrastructure to approximately 40,000 square metres, and an increase in passenger throughput.

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